June 11, 2014
WH Group and Sigma Alimentos jointly acquire Spanish meat processor
WH Group, formerly known as Shuanghui International, and Mexico's leading food producer Sigma Alimentos SA jointly acquired a 98.3% stake in Spain's meat processor Campofrio Food Group SA, China Daily reported.
The Chinese pork giant and its Mexican partner in the deal will split the ownership of Campofrio, with WH Group taking a 37% stake and Sigma Alimentos owning a 61.3% stake.
This is another major overseas acquisition by WH Group, which acquired Smithfield Foods last year and became the world's largest pork producer.
According to China Daily, Campofrio sells its products in eight European countries as well as the US. The company's sales totalled €1.9 billion (US$2.57 billion) in 2013.